Published on : Tuesday, October 17, 2017
Escorts Group has adopted a four-pronged strategy to expand its business, Dipankar Ghosh, chief executive of Escorts Railway Equipment Division.
Dipankar Ghosh also added that apart from building a strong R&D team, by collaborating with global technology majors, value engineering products and improving margins, they are exploring in targeted acquisition in megatronics, high-end propulsion systems.
Dipankar Ghosh said that whatever acquisitions they make will be complementary to the existing business.
The talks are at an advanced stage and a deal is expected to be closed by March 2018.
The Escort Group has earmarked Rs 200-300 crore for investments in its railway equipment division over two years.
The investments can go up depending on the requirement and provided they see value in the opportunity.
In all, the Escorts Group is targeting to boost in revenue from the railway equipment division to Rs 1,000 crore by 2022 from Rs 300 crore.
It estimates to earn in the current financial year. It had earned revenue of about Rs 170 crore in 2013-14.